all 72% 7:15 PM Q1 Moona Inc. produces Mobile phones. Information of the company's operations last year appear below: Fixed cost: Fixed Manufacturing overhead Fixed Selling & Administrative 40,000 Rs...

Extracted text: all 72% 7:15 PM Q1 Moona Inc. produces Mobile phones. Information of the company's operations last year appear below: Fixed cost: Fixed Manufacturing overhead Fixed Selling & Administrative 40,000 Rs 60,000 Rs Selling Price per unit Rs 100 Variable cost per unit: Direct Materials Direct labor Variable Manufacturing overhead Variable Selling & Administrative Rs 30 Rs 10 Rs 5 Rs 2 Units In beginning Inventory Units Produced Units Sold 2000 1900 Required: a. Compute the unit product cost under both absorption and variable costina b. Prepare an income statement for the year using absorption costing. c. Prepare a contribution format income statement for the year using varnable costing d. Prepare a report reconciling the difference in net operating income between absorption and variable costing for the year.